A recent report published by Infinium Global Research on marine telematics market provides an in-depth analysis of segments and sub-segments in the global as well as regional marine telematics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional marine telematics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global marine telematics market. According to the report, the global marine telematics market is projected to grow at a CAGR of 21.5% over the forecast period of 2019-2025.
Marine telematics uses wireless voice and data communication systems that offer vessel tracking, system monitoring, internet access, emergency aid, and other features. Companies operating in the global marine telematics market are adopting strategies such as mergers, acquisitions, and new product launches that expand their market share. The key players in the global marine telematics market are investing in research and technological development that promotes innovations.
The surge in demand for specialized boats and ships that ensures efficient offshore operations drives the growth of the marine telematics market. The increasing use of telematics technology in the marine industry contributes to the growth of the marine telematics market. The rapidly changing transportation industry stimulates the growth of the marine telematics market. The increasing adoption of the latest technology in ships promotes the growth of the marine telematics market. The incorporation of real-time fleet monitoring systems in marine propels the growth of the marine telematics market. The growing use of cloud-based technology in marine operations management solutions boosts the growth of the marine telematics market. On the flip side, high integration costs hamper the growth of the marine telematics market. Moreover, the rising adoption of automation in marine transportation creates several opportunities for the growth of the marine telematics market.
Based on geography, the global marine telematics market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. North America is expected to have a premium share in the global marine telematics market. The increasing offshore oil and gas exploration contributes to market development in North America that stimulates the growth of the marine telematics market in North America. Europe is anticipated to grow in the global marine telematics market with a healthy CAGR over the forecast period. Asia-Pacific is showing growth in the global marine telematics market. The surge in the number of container ship transportation in the Asia-Pacific region drives the growth of the marine telematics market in the Asia-Pacific region.
The report on the global marine telematics market covers segments such as product type and application. On the basis of product type, the sub-markets include data collection system, data release system, remote batch system, conversational system, and Q & A system. On the basis of application, the sub-markets include passenger ships, offshore oil and gas, and military ships.
The report provides profiles of the companies in the market such as Agero Inc., Airbiquity Inc., Connexis LLC, Ki2 Infotech Private Limited, Market Spectrum, Inc., Cybernetica AS, Navis LLC, Sentinel Marine Solutions, AST Marine Sciences Limited, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of marine telematics market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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